Hello and welcome! In today’s trending news stories;
1. Kidnapped pupils and teachers from Apostolic Faith Montessori School in Emure Ekiti, taken on January 29, have been freed, but the driver was killed by assailants. The Ekiti State Government confirmed the release, expressing gratitude to President Bola Tinubu for support. Governor Biodun Oyebanji pledged to provide medical treatment for the traumatized children and reiterated the commitment to eliminate crime from the state. The governor also vowed to apprehend those responsible for the deaths of two Ekiti traditional rulers, urging public vigilance and reporting of suspicious activities.
2. The national power grid in Nigeria experienced a collapse, resulting in blackouts across the country. The collapse occurred on Sunday, marking the first grid collapse in 2024. The Transmission Company of Nigeria (TCN) reported a partial system disturbance, with the grid’s capacity dropping significantly. The Minister of Power, Adebayo Adelabu, held meetings with power companies to address the issue, attributing the problem to low gas supply to power generating companies (GENCOs). Investigations revealed challenges in gas supply and sector liquidity, prompting the minister to form a committee to propose solutions. Adelabu clarified that he did not advocate subsidy removal but emphasized the need for a clear policy to address liquidity issues in the power sector.
3. Former Vice President Atiku Abubakar criticized President Bola Tinubu’s “renewed hope” economic plans, stating that they have disappointed citizens and led to the shrinking of small businesses. Atiku, the former flag bearer of the Peoples Democratic Party (PDP), accused Tinubu of causing multinational companies to leave the country and failing to address economic challenges effectively. He described Tinubu’s economic policies as creating pain, despair, and intensified cost of living pressures. Atiku also criticized the 2024 budget proposal, claiming it lacks concrete ideas and actions for economic transformation. He urged Tinubu to seek urgent help to revive the economy.
4. The Nigerian stock market has rebounded after experiencing losses in the last two days of January, with investors capitalizing on the short-lived bearish trend to acquire stocks at lower prices. Analysts from United Capital in Lagos anticipate a positive year for the capital market in 2024, citing the country’s premium equities status and attractiveness to foreign investors due to central banks cutting rates globally. Notable stock performances include Wema Bank leading the banking sector with a 93.8% share price increase, Dangote Cement leading the industrial sector with a 138.5% rise, and BUA Foods leading consumer goods stocks with a 47.4% increase. The NGX All Share Index increased by 1.97%, reaching 104,421.23 points, and the market’s year-to-date return rose to 39.65% as of Friday.
5. Nigerian Afrobeats stars, including Burna Boy, Davido, Tems, Ayra Starr, Olamide, and Asake, faced disappointment at the 66th Grammy Awards. Despite 10 nominations across five categories, they failed to secure any wins. The inaugural ‘Best African Music Performance’ went to South African singer Tyla for her 2023 track, “Water.” Burna Boy and Davido lost the ‘Best Global Album’ and ‘Best Global Music Performance’ categories to Shakti and Indian composer Zakir Hussain, respectively. Lil Durk’s collaboration with J Cole won the Grammy for ‘Best Melodic Rap,’ defeating Burna Boy’s four nominations. Tems, last year’s Grammy winner, lost in the ‘Song Written for Visual Media’ category. Despite the disappointment, Davido and Ayra Starr congratulated Tyla on her historic win, expressing support for Africa.
6. Chelsea’s recent performance, especially by Moises Caicedo, has led to criticism of manager Mauricio Pochettino. Caicedo’s inconsistent display, contributing to both a goal and defensive lapses, has intensified scrutiny. Chelsea fans, defensive of Caicedo, face backlash for the midfielder’s questionable plays. Pochettino’s management is questioned as the team struggles both defensively and offensively, with fans expressing dissatisfaction through boos. The collective performance, marked by a lack of cohesion, prompts doubts about Pochettino’s ability to lead Chelsea back into the top four. The owners face a crucial decision on whether Pochettino can secure Champions League qualification for the 2025/26 season.
7. Former Manchester United midfielder Marouane Fellaini has announced his retirement, prompting praise from ex-manager Jose Mourinho. Mourinho, who coached Fellaini during his tenure at Manchester United, conveyed his gratitude, stating, “I don’t forget who gave me everything he could give. You were and will always be one of mine.” Fellaini, 36, spent two-and-a-half seasons under Mourinho, winning the League Cup and the Europa League. Mourinho commended Fellaini’s commitment, heart, and happiness during their time together. Fellaini hinted at potential involvement in other football-related endeavors post-retirement.
